Calculate:
1. Total prime costs during October 2011.
2. Total conversion costs during October 2011.
3. Total of the product costs reported by the company in its GAAP balance sheet at October 31, 2011.
4. Amount of cost of goods manufactured reported for October 2011.
5. Amount of cost of goods sold reported for October 2011.

yeah you're right this isn't hard but for some reason the formulas i'm finding don't make any sense according to the information i'm given on the financial report.

example: the formula to find conversion costs is direct labor + overhead costsim given the number for overhead costs but no number for direct labor.

that's how it is for the other formulas too. seems like i'm not given enough information to answer them

edit: nevermind i am given those two numbers to find that one but for the other formulas i'm given one variable but not the other. i chose a bad example lol

you may have to solve for the variable you're missing by using other amounts that you are provided with. i'm sure that every question can be solved with the information provided, it's just a matter of figuring out what you may have to solve first before you can solve the main question.

you may have to solve for the variable you're missing by using other amounts that you are provided with. i'm sure that every question can be solved with the information provided, it's just a matter of figuring out what you may have to solve first before you can solve the main question.

Try to simplify the terms and add meaning to them, its easier like that for me. For example, Product Cost is the total amount to actually make the product. You need to incorporate everything into this, how to store the materials for the product, the materials, the labor. They all go into the product.

Conversion Cost. What you need to convert material to a product. You need the material and you need labor.

Hope I'm helping, this is a nice refresher on managerial accoutning before i start intermediate next week

mike dont i need the direct expenses too to find the prime costs? as i was saying to jaded earlier, some of the formulas seem to need numbers that aren't given to me in the financial report.

Formula I have written down is direct materials cost + direct labor cost. You may want to check your textbook or if you have lecture notes because there can be minor differences in equation subtleties.

Formula I have written down is direct materials cost + direct labor cost. You may want to check your textbook or if you have lecture notes because there can be minor differences in equation subtleties.

i'm gonna go with the ones you said. i don't have any of the formulas in my notes ..but that seems about right

you know back in my days when we didn't have the internet to ask people to do our homework we went to school early like 6am to meet up with other people to help us with our homework vol get off your lazy ass and figure shit out

these are very easy questions when you boil it down to a mathematical expression it's like addition and division with words.

i'm a sr business analyst this should be a walk in the park kids if you can't figure this out I'd suggest paying more attention in class.

you know back in my days when we didn't have the internet to ask people to do our homework we went to school early like 6am to meet up with other people to help us with our homework vol get off your lazy ass and figure shit out

these are very easy questions when you boil it down to a mathematical expression it's like addition and division with words.

i'm a sr business analyst this should be a walk in the park kids if you can't figure this out I'd suggest paying more attention in class.

We weren't given notes on that material yet or else I would of never asked. You must be an old ass salty dude. What you need to do is get off these forums. Smh at 40 year olds trynna relive their younger days by going on forums and shit

We weren't given notes on that material yet or else I would of never asked. You must be an old ass salty dude. What you need to do is get off these forums. Smh at 40 year olds trynna relive their younger days by going on forums and shit

not quite 40 yet but i'm getting there...just breakin 30 in 2 weeks to be honest. def not a salty dude but certainly don't need anyone telling me what i needs to do. you naive young bucks think i'm trying to relive my younger days? you'd be still flipping magic cards if it wasn't for us old salty ass dudes paving the way for this fashion street cred world you kids live in now. don't dish the hate my dude, you taking 'business accounting' classes because us old salty dudes monetized our hobby and turning this into a proper business.

not quite 40 yet but i'm getting there...just breakin 30 in 2 weeks to be honest. def not a salty dude but certainly don't need anyone telling me what i needs to do. you naive young bucks think i'm trying to relive my younger days? you'd be still flipping magic cards if it wasn't for us old salty ass dudes paving the way for this fashion street cred world you kids live in now. don't dish the hate my dude, you taking 'business accounting' classes because us old salty dudes monetized our hobby and turning this into a proper business.

I ain't trying to argue or any of that. That's not me. I just didn't like how you talking about getting my lazy ass off the Internet and figuring it out myself when you don't even know the situation. 80% of the class wasn't understanding it because the material wasn't covered in class. It's all good though go on with your day and I'll go on with mine. I don't want to keep bumping this thread